EKC wins Readers' Choice Award Gold

March 15, 2013 It is estimated that approximately one million Canadians are victims of mass marketing fraud and identity theft in Canada each year, at a cost of $10 billion.* While there are no typical descriptors for a fraud victim—it can happen to anyone—there are certainly steps that people can take to help protect themselves from fraud and identity theft.

“Scam artists are professional criminals who are actively looking for ways to gain access to your personal information,” explains Lindzee Herring, senior manager of corporate security at Envision Financial. “If anyone has ever been a victim of a stolen wallet or purse they will tell you that the financial and emotional stress is significant from having to re-establish their credit to replacing all of their identification. It’s a burden that’s best avoided if possible. Fortunately, there are a number of ways you can proactively protect yourself against identity theft.”

Here are just a few simple tips to keep in mind:

Carry only what you needHerring advises that people should only carry what they use and need in their wallets. “You should only carry the credit and debit cards that you use and need. Everything else like your social insurance card and birth certificate should really be stored in a secure and safe place—not in your wallet.”

Mobile alerts for when you’re on the go“Signing up for mobile alerts for online banking can help you stay on top of your account activity,” says Herring. “If transactions or activities are occurring on your account like password changes or new bill payees being added, these notifications will alert you to potential fraud immediately.”

Be stingy with your personal information“Be weary of who you’re giving your personal information or account information to,” says Herring. “You should always confirm the identity of the person making the request and under no circumstances should you give out any personal information in response to emails.

What you throw away can hurt youOne of the easiest ways that identity thieves can access your personal information is through the trash, particularly if you discard things like old credit card receipts, financial statements or even pre-approved credit card applications without tearing them up. “Shred everything –including any documents that contain any personal information,” Herring emphasizes. “Don’t forget to completely destroy the data before disposing of your old computers, hard drives or mobile device as simply deleting and reformatting hard drives are not enough. Items like CDs or DVDs should be physically destroyed before they’re thrown out.”

Unfortunately, despite taking precautions, identity theft still occurs. In such instances, Herring shares one last tip on what victims can do to take action if it does. “If you ever find yourself a victim of identity theft or have your wallet/purse stolen, the Canadian Identity Theft Support Centre is a great resource for the public. They have a checklist called the Victim Toolkit that lists all the steps a person should take if they have their identity stolen and the contact information to various agencies they should call to report the crime.”

Important changes to USD/foreign wire routing instructions

The U.S. correspondent bank with which Central 1 Credit Union had been working advised them, with only a short notice period, that because of tougher enforcement of stringent anti-money laundering regulations by the regulators in the US, they are exiting correspondent banking relationships with over 500 of their international clients.

To minimize the potential disruption and any delays in your incoming wire transfers, we are providing you with new routing instructions so that you can communicate the changes to the sender of your payment(s) as soon as possible. In turn, the sender will need to provide our new routing instructions to the sending bank to ensure that your payment(s) arrive as intended and on time.

This information is from ‘The Little Black Book of Scams’ produced by the Competition Bureau Canada 2012. The book is a guide to help individuals protect themselves against current scams

Myth BustersBusting these common myths will minimize your chances of being scammed.

All companies, businesses and organizations are legitimate because they are licensed and monitored by the government: This is not always true. While there are rules about setting up and running a business or a company in Canada, scammers can easily pretend to have approval when they don’t. Even businesses that are licensed could still try to scam you by acting dishonestly.

All Internet websites are legitimate: This is not always true. Websites are quite easy and cheap to set up. The scammers can easily copy a genuine website and trick you into believing it is legitimate.

There are short cuts to wealth that only a few people know: This is not always true. Ask yourself the question: if someone knew a secret to instant wealth, why would they be telling their secret to others?

Scams involve large amounts of money: This is not always true. Sometimes scammers target a large number of people and try to get a small amount of money from each person.

Scams are always about money: This is not always true. Some scams are aimed at stealing personal information from you.

Golden rules Remember these golden rules to help you beat the scammers.

Always get independent advice if an offer involves money, personal information, time or commitment.

There are no guaranteed get-rich-quick schemes—sometimes the only people who make money are the scammers.

Do not agree to offers or deals right away. If you think you have spotted a great opportunity, insist on time to get independent advice before making a decision.

Do not hand over money or personal information, or sign anything until you have done your homework and checked the credentials of the company that you are dealing with.

Do not rely on glowing testimonials: find solid evidence of a company’s success.

Log directly on to a website that you are interested in rather than clicking on links provided in an email.

Never send money, or give credit card or online account details to anyone you do not know and trust.

If you spot a scam or have been scammed, get help. Contact the Canadian Anti-Fraud Centre, the Competition Bureau or your local police for assistance.

Scammers are imaginative and manipulative. They know how to push your buttons to produce the response they want.

Survey Says…

EKC has contracted Concerto, an independent Canadian company, to survey our members and local residents to help us understand the changing needs of the people of the East Kootenay. Thank you for your support and if you have any questions or concerns about the survey please contact Gerry Dreger 250.919.7770 or your branch manager.

In October, EKC hosts a Member Appreciation Day at every branch. Please bring a friend, and enjoy refreshments and door prizes. Check here for next year's date.

Mobile Banking Phishing Scam

EKC/Central 1 has been alerted to the presence of an SMS text messaging phishing scam that is contacting people across Canada. People receive an alert (sample below), requesting that they call a toll free number because their account has been locked due to exceeding online attempts.

The text messages reference a financial institution name, however the person receiving the text does not always have a relationship with the financial Institution referenced, which indicates that the text messages are being randomly sent. Customers that call into the number will be prompted for their card number, expiry date, and their personal access code.

Members should not provide this information at any time, as this may lead to their account being compromised.

EKC/Central 1 does provide MemberDirect Alerts, which could advise your customers if their accounts have been locked out due to failing a password 3 times, or failing the Increased Authentication challenge question 3 times as well. In both of these cases, the Alert would populate with the following message format: “Login failed and account is locked. Contact <FI> at <FI URL>”, which would include your Financial Institution name, and the URL.

If you have any questions, or concerns on this issue, please feel free to contact EKC for assistance.

Travelling Outside of Canada?

Ongoing – posted January 27, 2011

If you're going to be travelling outside CanadaCall us in advance at 1.866.960.6666, 250.426.6666 or email us at admin@ekccu.com to let us know your plans. It'll help us protect your account, and it'll help protect you from unnecessary hassle. It's also a good idea to give us phone numbers where we can reach you while you’re away or the names of people you authorize us to contact, and their phone numbers, should a problem arise and we are unable to contact you directly.

Emergency contactIf you run into an emergency with your account while you're traveling, please call us collect at 1.250.426.6666.

CHIP Cards

April 3, 2010

What is a CHIP card?A CHIP card, sometimes referred to as a 'smart card' is a credit or debit card containing an embedded computer CHIP that give the card the ability to store or process data. CHIP cards and CHIP terminals work together to ensure a highly secure transaction by validating the card and cardholder. The computer CHIP makes the card more difficult to copy, thereby reducing counterfeit fraud.

When will I get my credit union CHIP card?EKCCU looks forward to issuing CHIP cards in 2010. MasterCard CHIP cards are now being issued. If you are planning a trip overseas we suggest you order a new MasterCard CHIP card.

Go Mobile

Remember when a cell phone was just for calling people? Not anymore. Today you can do all kinds of things with your phone — take pictures, download music, even check your account balances.

That's right. Introducing mobile banking — a new feature at EKCCU that gives you real-time access to your accounts wherever you happen to be. Just send a quick text message to your account and you'll receive a message back. It's FAST, it's EASY and it's FREE.

Banking on the go

Picture it. You take your car in for servicing only to find the bill is more than you anticipated. Now what? Or maybe you're out running errands when you see that big-ticket item you've been drooling over is finally on sale. Should you go for it?

With mobile banking, you can check your balance and recent account activity information from anywhere you can get a signal — instantly. There's no need to find a computer. Just pull out your text-enabled phone.

Worried about bad guys? With mobile banking, your personal information is always secure. The only information that is transmitted is your account balance or recent account activity. No PIN numbers or passwords are required. And even if you lose your phone, no one will be able to make changes to your account, steal funds or gain access to your personal information.

Ready to go?

Getting started with mobile banking is easy. To begin the sign up process, login to online banking and click on 'My Profile' then the 'Mobile Banking' link. Once you're registered, text any of the commands to 'Money' (set up during registration) and receive your account information on your cell phone.

If you don't have access to online banking yet, contact your branch to sign up today.*Standard text messaging rates may apply depending on your provider and plan.

GLOBAL PAYMENT MasterCard® and Travelling

February 25, 2010 updated March 8, 2014

If you are traveling out of country the following are a few things to remember:

MEMBER CARD® Debit Card can be used to withdraw funds at a US or International ATM displaying the CIRRUS symbol

GLOBAL PAYMENT MasterCard® will NOT be accepted at US or International ATMs

GLOBAL PAYMENT MasterCard® will continue to be accepted as a Mastercard at retail outlets for purchases and can also be used to get a MasterCard cash advance

Should you not have a MEMBER CARD Debit Card , we strongly encourage you to obtain one to maintain access to US and International ATMs.

For more information, please contact your local branch.

Updated Member Terms and Conditions

February 10, 2010

Excerpt:

Terms and Conditions

9. Operation of the Account

9.1 Modification of Agreement - The Financial Institution may, in its sole discretion, amend the terms and conditions of the Account agreement as it relates to the Depositor's use of the Account from time to time, for any reason, without any liability to the Depositor or any other person. The Financial Institution may provide notice of a change to the agreement by mailing notice to the Depositor's last known address, by posting notice at the Financial Institution's premises, by personal delivery, posting on the financial institution's home website, or by any other means the Financial Institution, acting reasonably, considers appropriate to bring the modification to the attention of the Depositor. The Depositor is responsible for regularly reviewing the terms and conditions of the Account agreement. If the Depositor uses the Account after the effective date of an amendment to this agreement, it will mean that the Depositor agrees to the amendment and adopts and is bound by the newer version of this agreement. The Depositor may not change, supplement, or amend the agreement by any means.